Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,135 Shares of Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,135 shares on June 12 at an average price of $74.19, adding to a string of recent purchases over several trading days.
• Strong quarterly results: The company reported earnings of $3.35 per share, beating estimates of $2.77, while revenue of $357.01 million also topped expectations and rose 17.4% year over year.
• Dividend and valuation backdrop: Navios increased its quarterly dividend to $0.06 per share from $0.05, and the stock was trading near $73.87 with a P/E ratio of 6.22 and a consensus analyst target price of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,135 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $74.19 per share, for a total transaction of $84,205.65. Following the acquisition, the insider directly owned 4,745,850 shares in the company, valued at $352,094,611.50. This trade represents a 0.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Angeliki Frangou also recently made the following trade(s):

• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.73 per share, for a total transaction of $82,651.38.
• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.66 per share, for a total transaction of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.77 per share, for a total transaction of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.25 per share, for a total transaction of $83,665.50.

Navios Maritime Partners Stock Performance

Shares of NYSE:NMM traded down $0.55 during mid-day trading on Tuesday, reaching $73.87. The company had a trading volume of 86,495 shares, compared to its average volume of 145,979. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 6.22 and a beta of 1.01. The company's 50-day moving average price is $71.87 and its 200-day moving average price is $63.96. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $80.69.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company had revenue of $357.01 million for the quarter, compared to analysts' expectations of $317.80 million. During the same quarter in the previous year, the firm posted $1.58 EPS. Navios Maritime Partners's revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's payout ratio is presently 2.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NMM shares. Wall Street Zen raised shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Finally, Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a "buy" rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Navios Maritime Partners has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Navios Maritime Partners during the 1st quarter valued at $63,000. State of Wyoming purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at $207,000. Finally, Mariner LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at $208,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. NYSE: NMM is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.

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